Year End Closing Processing Requirements

Macola ES

Image by Puzzler4879 on Flickr

• Review Specific Module Requirements for Year End Close Processing

• Completing operations

• Year end closing steps

• Discuss General Ledger

• Year End Payroll update requirements

• Purging Considerations

Agenda

Image by Caucas‘ on Flickr

Completing Operations

• Order Entry – Post Invoices & Credit Memos

• Order Entry – Post Cash

• AR – complete sales transactions & cash receipts

• PO/Receiving – Complete Receiving

• PO – Close purchase orders

• Inventory – complete all movements

• POP – complete all material Issues and POP completions

Completing Operations

• SFC – complete all material issues/returns

• SFC – Complete all activity transactions and shop order close processes

• MCA – Post activity transactions

• LP – Generate earnings

• Payroll – complete the last payroll for the year

• Assets – complete the last depreciation cycle

• AP – complete all checks, voucher entry and posting

Sequence of Period and Year End Closing

Order Entry

AR

Inventory Payroll

PO

Receiving

APAssets &

Depr.

Production

General Ledger

Macola ES Makes it Easy

All period or year end processes are found on

the Systems tab*

* General Ledger “Clear tax accumulators”

Is found on the GL tab

Order Entry

• Perform the OE month end (post sales history, then sales history period end process)

• Perform the Sales History Year-End Procedure

• There are no fields cleared or OE data captured at year end

Accounts Receivable

• Perform the normal month end

• Run the AR Sales Analysis Report (this report does not have a date selection as of yet)

Purchase Order & Receiving• Perform the normal period end

• Perform the “Clear Vendor YTD Statistics” process– Fields cleared:

• YTD PO’s per vendor

• Vendor performance data: vendor percent late, vendor lines late, vendor line items ordered, average cost variance %, average reject items %, average lead time, average days late.

– Fields captured: none

Accounts Payable

• Perform AP Period End

• 1099 Processing Considerations

– 1099’s can be printed at any time by entering the year desired

– Consider purchasing 1099 forms from Macola to insure compatibility

Inventory

• Perform IM Period End Process– Run Reset Allocations and Reset On Order

• Clear the YTD Accumulators (after all reports have been printed)

• Fields cleared:– YTD Quantity sold, used, scrapped; YTD Sales

dollars, Cost of Sales dollars

• Fields captured:– Prior Year Quantity sold, used, scrapped,

sales dollars and cost dollars

Assets and Depreciation

• Perform the AD Period End

• Print the Asset Year End Totals Report

General Ledger

• Perform Period End Processing

• Process all journals (General Ledger – Process)

• Perform the PTD/YTD Tax Accumulators

General Ledger

• Use “Process Profit/Loss to post annual profit or loss

Payroll

• Perform month end process

• Perform quarter end process

• Perform W-2 Processing

• Do not process any new year payroll prior to completing the W-2 printing process

• Clear Employee Accumulators

Year End Payroll

• Payroll update available on Exact portal –approximately 12/30 or 12/31

• Payroll tax table updates are part of the normal Macola ES system update process

– No additional steps required

Purging Considerations

• Macola does not purge itself – you must have a process and policy in place for this– Purge frequency for each type of data

– Retention policy for each type of data

• Always set a purge password

• If you don’t purge: System becomes slower, queries take longer, some views become useless

• Year End = an excellent time to purge

Purging Considerations

• Most Frequent Purging Offenders:– GL Distribution Files– Audit trail reports– Inventory transaction history– Journal history– Purchase history– Sales history

• A decision to NOT purge Macola is not recommended

• Consider purchasing the Pulse Archive Utility to automate the purge process• No data is lost – takes minutes instead of hours